Angola and Us Sign Intergovernmental Agreement
Luanda — A substantially Intergovernmental Agreement under the Foreign Account Tax Compliance Act (FATCA) was signed Monday in Luanda between the Ministry of Finance and the government of the United States of America, represented by its ambassador to Angola.
According to the Internal Revenue Service (IRS), the US tax authority, Angola is from now on included in the list of countries with inter-governmental agreement with the United States.
FATCA aims to combat tax evasion of US taxpayers holding financial assets through financial institutions located outside the US territory.
With this agreement, Angola adheres to the international movement to combat tax evasion, joining a list of over 100 countries collaborating with the US, pledging to implement in its national law, the processes and software tools necessary to ensure proper communication by national financial institutions the income earned by US customers.
On the occasion, the administrator of the General Tax Administration (AGT), Gilberto Luther, said that it is a tool that prevents tax evasion, and indirectly also supports the efforts to combat money laundering and terrorism financing.
